Motor will not return to profit until at least 2014, says Ernst & Young

Car crash

The firm said that, despite premium increases last year which saw net combined ratio improve from 122.1% to 105.5% - the sharpest year on year improvement since 1991 - the industry on the whole still did not make a profit, and was unlikely to do so in the foreseeable future as the market was beginning to soften again.

Catherine Barton, partner in Ernst & Young’s financial services actuarial team, said: “We had been hopeful that this was the year that the industry would turn a profit but rate

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: